In August 2014, Atlas Copco North America, Asia-Pacific, and U.K.Acquisitions, collaborations and expansion of production capacity are some of the key strategies adopted by market players to expand and sustain in the global rivet gun market. In the past few years, the rivet gun market has witnessed significant developments from a competition perspective. The top ten players in the global rivet gun market are projected to collectively hold between a 25% and 30% market share. The global rivet gun market is moderately consolidated with top market players holding single digit market shares as of 2017. The well-established production and distribution facilities in India and China, coupled with the growth of the online sales channel, are expected to create a significant opportunity for the growth of the rivet gun market in the Asia Pacific region. Collectively, in terms of value, China and India are expected to grow 2.05X over the forecast period. In the construction industry, rivets are used to assemble two steel frames, construction towers, light towers and bridges, steel roofing and trusses.
Rivet guns are extensively used in the automobile industry to join or assemble parts. Rapid urbanization has been fueling automotive sales, which in turn has been surging the demand for rivet processing tools (rivet guns). Production and consumption of rivet guns in China and India are expected to grow with a significant rate during the forecast period, owing to the positive outlook of automotive and construction industries in India and China.
The rising demand for lightweight processing tools and automotive fasteners in the automotive industry for ease of use, high performance and energy efficiency are some of the other factor driving the growth of the rivet gun market.Ĭhina and India to Remain High-Growth Countries in the Rivet Gun Market The pneumatic rivet gun segment is projected to grow with a 5.6% CAGR, in terms of value, over the forecast period. Therefore, the increasing demand and subsequent production of automotive have led to an increase in the demand for tools used to assemble automotive parts. Improving economic conditions and rapid urbanization have led to an increase in the sales of automobiles in emerging markets. Rivet processing tools (rivet guns) are widely used to manufacture and assemble the parts of an automobile using rivets. The automotive industry across the globe has been enjoying a period of relatively strong and substantial growth and profits, which consequently has been surging the demand for rivet processing tools (rivet guns). Economic growth improves the standard of living, alongside the spending power of people.
Increasing Sales of Automotive, Supported by Economic GrowthĪs per IMF data, the global economy grew by 3.8% (real GDP) in 2017. The segment is projected to create an incremental dollar opportunity worth nearly US$ 46.2 Mn during the forecast period. Sales in Japan grew with the gradual recovery of investments in the housing sector and the demand for restoration following the Great East Japan Earthquake.īy the end of the forecast period, the application of rivet guns in the building and construction industry is anticipated to grow 1.71X in terms of value, as compared to 2018. The sales of rivet guns in India has been growing with rapid infrastructural development and urbanization, and strong investment in the construction housing sector. Growth in aerospace, automotive and marine fasteners is also expected to drive demand for rivet guns in the global market. Investment in the housing sector is a major factor fueling the demand for rivet guns and rivet processing tools as rivets are widely used in residential construction for the attachment of doors through hinges, as well as roofing and ceiling. According to the UN, the world population is expected to increase by 20% between 20, with Asia and Africa projected to contribute significantly to this growth, which is expected to further lead to urbanization and the subsequent need for hand and power tools. Urbanization has been creating a need for additional infrastructure development, such as transportation, energy and related maintenance services all of which require rivet processing tools. Increasing Housing Investments and Rapid Urbanization to Drive Demand for Rivet Processing Tools